Starting the week on a positive note, gold prices in India were elevated on today. After consolidating after the Union Budget, yellow metal spiked by about 1.5% to 2.7% in various cities reflecting a weaker U.S. dollar and buoyant domestic demand in the peak wedding season. The following are the approximate rates for 10 grams of gold:
| City | 24K Gold (10g) | 22K Gold (10g) | 18K Gold (10g) |
| Delhi | ₹1,58,990 | ₹1,45,750 | ₹1,19,130 |
| Mumbai | ₹1,58,840 | ₹1,45,600 | ₹1,19,130 |
| Chennai | ₹1,59,820 | ₹1,46,500 | ₹1,25,200 |
| Bangalore | ₹1,58,840 | ₹1,45,600 | ₹1,19,130 |
| Hyderabad | ₹1,58,840 | ₹1,45,600 | ₹1,19,130 |
| Kolkata | ₹1,58,840 | ₹1,45,600 | ₹1,19,130 |
Key Reason Behind RISE in Price Today
There are a bunch of global and domestic reasons why bullion prices in India went through the roof yesterday and today.
Geopolitical Safe-Haven Demand
Global tensions such as renewed economic strife, especially the trade wars between the US and Europe, is continuing to drive traders towards gold as a safe haven asset. International market uncertainty tends to be the spur to gold’s momentum.
Weakness in the U.S. Dollar
The U.S. dollar index dipped slightly on Monday morning. Given that gold is sold in dollars around the world, a weaker greenback has the effect of making the metal less expensive for buyers with other currencies, which boosts world demand.
Domestic Wedding Season
India’s major wedding season has attracted a strong population in February. Even at a strong price point, jewelry retail buying shows a healthy demand, giving a decent floor for domestic price points.
Technical Recovery
Despite a brutal correction earlier in the month in the wake of the Union Budget 2026 (in which import duties and fiscal policies were clarified), analysts recommend gold entered an “oversold” market. To some extent, today’s rally is a technical “buy-on-dip” recovery in which investors return to the market.
Silver: Another Big Stick
To ensure that it don't go overboard, silver prices also have a huge spike, rising by over ₹12,000 per kg in some markets. Silver is currently trading near ₹2,63,000 per kg in Delhi and Mumbai, with surging currencies as it expands up, in line with a wider share market rally for precious metals.
Investor Take
Market analysis: MCX experts suggest that while the short-term trend is bullish, volatility remains large. Investors are urged to consider US inflation data and Federal Reserve commentary later this week that could narrow if this rally holds or becomes entrenched.
